(Repeats from Friday, no changes to text. Updates chart)
** S&P 500 gyrates, finishes up 0.5%. SPX snaps
2-week losing streak even as China's Evergrande worries persist
** This after the Dow Industrials kicked off the week
on a real downer, and the September slide
intensified
** Then Nasdaq futures turned bouncy, bouncy
** Still, a recent swarm of Hindenburg Omens has traders
braced
** And its hand-to-hand combat in the chart trenches
** Majority of sectors advance: Energy and financials
thrive, while bond-proxy plays falter. This as U.S Treasury
yields rise on potential higher rates in 2022
** Energy leaps 4.7%. Group gains as tight supplies
lift crude prices. Shell exits Permian
Basin with $9.5 bln shale sale to ConocoPhillips
. COP up 10%
** Financials jump 2.2%. Banks extend rally after
Fed signals rate hikes sooner than expected. S&P
500 Banks index up >3%
** Tech adds 0.9%. Salesforce.com soars
after raising full-yr sales outlook on hybrid work boost
. CRM up ~10%
** Industrials up 0.8%. But FedEx worst
SPX performer, skids 11%, after cutting profit forecast on labor
costs
** Consumer Discretionary edges up 0.3%. Though
Nike hits 3-month low on Fri after co cuts sales
forecast, blames supply chain crunch
** Meanwhile, cryptocurrency-related firms slide after China
bans crypto trading and mining
** SPX performance YTD:
(Lance Tupper and Terence Gabriel are Reuters market analysts.
The views expressed are their own)
